Investment Objective/Strategy -First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the FTSE EPRA/NAREIT Developed Index.

There can be no assurance that the Fund's investment objectives will be achieved.

The Index is designed to measure the stock performance of companies engaged in
specific real estate activities of the North American, European and Asian real estate
markets. Relevant real estate activities are defined as the ownership, trading and
development of income-producing real estate.

The constituents of the Index are required to meet individual geographic criteria
and are subject to size, liquidity, and free float screens.

The Index is a modified market capitalization weighted index, based on free float
market capitalization. The Index is rebalanced and reconstituted quarterly.

Fund Overview

Ticker

FFR

Fund Type

Global REIT

Investment Advisor

First Trust Advisors L.P.

Investor Servicing Agent

Bank of New York Mellon

CUSIP

33736N101

ISIN

US33736N1019

Intraday NAV

FFRIV

Fiscal Year-End

09/30

Exchange

NYSE Arca

Inception

8/27/2007

Inception Price

$50.00

Inception NAV

$50.00

Rebalance Frequency

Quarterly

Gross Expense Ratio*

0.70%

Net Expense Ratio*

0.60%

* As of 2/1/2018

Expenses are capped contractually at 0.60% per year, at least until January 31, 2019.

Current Fund Data (as of 2/20/2018)

Closing NAV1

$43.01

Closing Share Price2

$42.96

Bid/Ask Midpoint

$43.00

Bid/Ask Discount

0.03%

Total Net Assets

$43,008,964

Outstanding Shares

1,000,002

Daily Volume

3,263

Average 30-Day Daily Volume

8,110

Closing Share Price 52-Week High/Low

$46.68 / $41.96

Closing NAV 52-Week High/Low

$46.76 / $41.78

Number of Holdings

334

Fund Characteristics (as of 1/31/2018)8

Maximum Market Cap.

$50,835

Median Market Cap.

$2,972

Minimum Market Cap.

$361

Price/Earnings

14.99

Price/Book

1.42

Price/Cash Flow

11.91

Price/Sales

6.00

Top Holdings (as of 2/20/2018)

Holding

Percent

Simon Property Group, Inc.

3.45%

Prologis, Inc.

2.30%

Public Storage

1.97%

CK Asset Holdings Ltd.

1.67%

Unibail-Rodamco SE

1.65%

Sun Hung Kai Properties Limited

1.64%

Mitsui Fudosan Company, Ltd.

1.63%

Vonovia SE

1.60%

AvalonBay Communities, Inc.

1.58%

Mitsubishi Estate Company, Ltd.

1.50%

Holdings are subject to change.

Top Country Exposure (as of 2/20/2018)

Country

Percent

United States

50.17%

Japan

11.16%

Hong Kong

8.48%

Australia

5.76%

United Kingdom

5.08%

Germany

4.02%

France

3.55%

Canada

3.03%

Singapore

2.85%

Sweden

1.49%

NAV History (Since Inception)

Past performance is not indicative of future results.

Distribution Information

Dividend per Share Amt (as of 2/21/2018)3

$0.9007

30-Day SEC Yield (as of 1/31/2018)4

4.08%

Unsubsidized 30-Day SEC Yield (as of 1/31/2018)5

3.91%

12-Month Distribution Rate (as of 1/31/2018)6

3.06%

Index Yield (as of 1/31/2018)7

3.95%

Bid/Ask Midpoint vs. NAV (as of 12/31/2017)

Number of Days Bid/Ask Midpoint Above NAV

Quarter Ended

0-49Basis Points

50-99Basis Points

100-199Basis Points

>=200Basis Points

12/31/2017

18

0

0

0

9/30/2017

28

0

0

0

6/30/2017

23

3

0

0

3/31/2017

45

1

0

0

Number of Days Bid/Ask Midpoint Below NAV

Quarter Ended

0-49Basis Points

50-99Basis Points

100-199Basis Points

>=200Basis Points

12/31/2017

45

0

0

0

9/30/2017

34

1

0

0

6/30/2017

37

0

0

0

3/31/2017

16

0

0

0

The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.

Top Sub-Industry Exposure (as of 2/20/2018)

Diversified REITs

28.31%

Retail REITs

21.11%

Residential REITs

14.18%

Office REITs

12.65%

Industrial REITs

7.63%

Healthcare REITs

6.53%

Lodging/Resorts REITs

4.05%

Self Storage REITs

3.56%

Industrial/Office Mixed REITs

1.60%

Month End Performance (as of 1/31/2018)

3 Mos

YTD

1 Year

3 Year

5 Year

10 Year

SinceFundInception9

Fund Performance *

Net Asset Value (NAV)

4.02%

-0.09%

9.80%

2.96%

5.69%

3.56%

2.63%

After Tax Held

3.15%

-0.09%

8.36%

1.66%

4.34%

2.20%

1.28%

After Tax Sold

2.33%

-0.05%

5.70%

1.65%

3.76%

2.10%

1.37%

Market Price

3.46%

-0.22%

9.28%

2.63%

5.53%

3.35%

2.57%

Index Performance **

FTSE EPRA/NAREIT Developed Index

4.32%

0.03%

10.81%

3.71%

6.54%

4.55%

3.51%

MSCI World REIT Index

2.05%

-1.25%

9.03%

3.02%

6.43%

4.03%

2.82%

S&P Global REIT Index

2.40%

-1.60%

5.61%

1.83%

5.92%

4.34%

3.11%

Quarter End Performance (as of 12/29/2017)

3 Mos

YTD

1 Year

3 Year

5 Year

10 Year

SinceFundInception9

Fund Performance *

Net Asset Value (NAV)

3.56%

10.57%

10.57%

4.66%

6.26%

3.26%

2.66%

After Tax Held

2.69%

9.11%

9.11%

3.34%

4.89%

1.90%

1.30%

After Tax Sold

2.02%

5.97%

5.97%

2.96%

4.20%

1.86%

1.39%

Market Price

2.98%

10.66%

10.66%

4.46%

6.04%

3.16%

2.62%

Index Performance **

FTSE EPRA/NAREIT Developed Index

3.83%

11.42%

11.42%

5.38%

7.20%

4.09%

3.54%

MSCI World REIT Index

3.73%

10.28%

10.28%

5.36%

7.27%

3.83%

2.97%

S&P Global REIT Index

2.97%

7.41%

7.41%

4.19%

6.94%

4.17%

3.30%

3-Year Statistics (as of 1/31/2018)

Standard Deviation

Alpha

Beta

Sharpe Ratio

Correlation

FFR

10.48%

0.18

0.89

0.29

0.97

MSCI World REIT Index

11.39%

---

1.00

0.28

1.00

Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms
on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure
of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*Performance data quoted represents past performance. Past performance is not a guarantee of future
results and current performance may be higher or lower than performance quoted. Investment returns
and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than
their original cost.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold.
After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns
do not represent the returns you would receive if you traded shares at other times. Market Price returns are
based on the midpoint of the bid/ask spread on the stock exchange on which shares of the fund are listed for
trading as of the time that the fund’s NAV is calculated. Returns are average annualized total returns, except
those for periods of less than one year, which are cumulative. The fund's performance reflects fee waivers
and expense reimbursements, absent which performance would have been lower.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and
do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax
situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold
their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Performance information for the FTSE EPRA/NAREIT Developed Index is for illustrative purposes only and does not represent actual fund performance.

Indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index.

The gross expense ratio for this fund is 0.70%.Expenses are capped contractually at 0.60% per year, at least until January 31, 2019.

FTSE EPRA/NAREIT Developed Index - The Index is designed to track the performance of listed real estate companies and REITS worldwide.

MSCI World REIT Index - The Index is a free float-adjusted market capitalization-weighted index that is designed to measure the real estate investment trusts from 23 developed markets around the world.

Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).

3

Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.

4

The 30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period and includes the effects of fee waivers and expense reimbursements, if applicable.

5

The unsubsidized 30-day SEC yield is calculated the same as the 30-day SEC yield, however it excludes contractual fee waivers and expense reimbursements.

6

12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution rates may vary.

7

Index yield represents the weighted average trailing 12-month dividend of the constituents of the FTSE EPRA/NAREIT Developed Index.

8

All market capitalization numbers are in USD$ Millions.

9

Inception Date is 8/27/2007

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on the NYSE Arca, Inc.

The fund's return may not match the return of the FTSE EPRA/NAREIT Developed Index. Securities held by the fund will generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions.
Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net
asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be
redeemed directly from the fund by authorized participants, in very large creation/redemption units. If the fund's authorized participants are unable
to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at
a discount to the fund's net asset value and possibly face delisting.

Risk Considerations

The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value. There can be no assurance that the fund's investment objective will be achieved.

An investment in a fund containing securities of non-U.S. issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

The fund is subject to the risks associated with investing in real estate and real estate investment trusts (REITs), which include fluctuations in the value of underlying properties, defaults by borrowers or tenants, market saturation, changes in general and local economic conditions, decreases in market rates for rents, increases in competition, property taxes, capital expenditures or operating expenses, dependency upon management skills, limited diversification, and other economic, political or regulatory occurrences. Increases in interest rates typically lower the present value of a REIT's future earnings stream, and may make financing property purchases and improvements more costly.

The value of the fund will generally decline when investors in REIT stocks anticipate or experience rising interest rates.

Changes in currency exchange rates and the relative value of non-US currencies may affect the value of a fund's investments and the value of a fund's shares.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

The FTSE EPRA/NAREIT Developed Index is calculated by FTSE International Limited ("FTSE"). FTSE does not sponsor, endorse or promote the First Trust
FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund. All copyright in the index values and constituent list vests in FTSE and/or its licensors.
First Trust Advisors L.P. and the First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund has obtained full license from FTSE to use
such copyright in the creation of the First Trust FTSE EPRA/NAREIT Developed Markets Real Estate Index Fund. "FTSE®",
"FT-SE®" and "Footsie®" are trademarks jointly owned by the London Stock Exchange Plc and the Financial Times Limited
and are used by FTSE under license. "NAREIT®" is the trademark of the National Association of Real Estate Investment Trusts and
"EPRA®" is the trademark of the European Public Real Estate Association and are used by FTSE under license.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.

First Trust Portfolios L.P. Member SIPC and FINRA.
First Trust Advisors L.P.